A model of bimodal star formation is presented, wherein massive stars form in giant molecular clouds (GNC), at a rate regulated by supernovae energy feedback through the interstellar medium, the heat input also ensuring that the initial mass function (IMF) remains skewed towards massive stars. The low mass stars form at a constant rate. The formation of the GMC is governed by the dynamics of the host galaxy through the rotation curve and potential perturbations such as a spiral density wave. The characteristic masses, relative normalizations, and rates of formation of the massive and low mass modes of star formation may be tightly constrained by the requirements of the chemical evolution in the Solar Neighborhood. Good fits were obtained for the age metallicity relation and the metallicity structure of thin disk and spheroid stars only for a narrow range of these parameters.